Willis Towers Watson
In 1828 Henry Willis began his career as a merchant selling imported goods on commission in the UK at the Baltic Exchange in London.
Willis applied for membership of Lloyd’s in 1848, where he started to broker insurance for the cargoes of commodities he sold on commission. As his enterprise grew, he became involved in the hull business, establishing himself in marine insurance and founding Henry Willis & Company.
Today WTW, created by the merger of Willis and Towers Watson in 2016, aims to provide data-driven, insight-led solutions in the areas of people, risk and capital to help make organization more resilient, motivate workforces, and maximize performance. It operates in 140 countries and markets.
WTW achieves 3% organic broking growth in 2022
WTW has reported 3% organic growth in risk and broking revenues for 2022 boosted by a 5% rise in the final quarter of the year.
Fitch warns of ‘dire’ profitability for insurers in ‘bleak’ picture
The outlook for UK home and motor insurers’ profitability “remains pretty dire for 2023”, according to Federico Faccio, senior director of EMEA insurance at Fitch Ratings.
People Moves: 30 January – 3 February 2023
Stay up to date with the latest recruitment news in the insurance industry.
Car premiums surge 19% in 2022
Comprehensive car insurance premiums increased sharply by 19% during the last 12 months, with UK motorists now paying £629 on average, according to the latest Car Insurance Price Index.
Industry gears up for 2022 Insurance Day of Giving
Insurance United Against Dementia is preparing for the latest Insurance Day of Giving with several firms already committed to raising money for the Alzheimer’s Society.
WTW, Liberty and Markel team up on complex specialty risks digital trading platform
WTW has staked its claim for a “step-change” in digital trading as it unveiled a collaboration with Liberty Specialty Markets and Markel launching the pilot phase of a commercial insurance platform.
Biggest annual rise in five years as car premiums jump 14%
Average comprehensive car insurance premiums reached £586 in the third quarter, up 14% since Q3 2021 and by 6% in the last three months alone, according to research by Confused and WTW.
Car damage inflation cooling off - Jefferies
Jefferies’ UK motor insurance tracker has revealed that car damage inflation has dropped and is now at 7% year-on-year as the group maintained its forecast of a combined operating ratio of 116% for the market in 2022.
Analysis: Insurance dives deeper into returners talent pool
With an increasing number of insurance companies offering returners programmes Emmanuel Kenning looks into the benefits for all concerned as experts encourage even more firms to access this relatively untapped source of talent
Registration opens for 2022 Dive In festival
Diversity initiative Dive In has opened registration for its 2022 festival as it calls on the insurance industry to build braver cultures.
Car insurance premiums up 6% in the last 12 months
The cost of comprehensive car insurance rose by £32 in the last 12 months, according to research by Confused and WTW.
WTW warns of accelerating motor claims inflation
WTW has warned UK motor claims inflation is expected to accelerate in 2022 after pandemic disruption caused a slowdown in the average time taken to settle claims which acted as a temporary break on rises.
People Moves: 6 - 10 June 2022
Keep up-to-date with the latest job changes in insurance.
Allianz agrees to sell majority stake in Russian operations
Allianz has agreed to sell a majority stake in its Russian operations to Interholding, the owner of Russian insurer Zetta insurance.
Insurance ban on Russian oil ships - report
The UK and EU have teamed up to ban the insurance of ships carrying Russian oil, the Financial Times has reported.
Analysis: Network knowledge is key to opening the door to new start-ups
The network sector is in upbeat mood confident of growing with existing and new members as well as being keen to help new start-ups come into the insurance market, the leaders tell Emmanuel Kenning
Car insurance prices up 4% in Q1
A 4% rise in average comprehensive car insurance premiums in the first quarter of the year has pushed the annual rate to a 2% increase, according to research by Confused and WTW.
People Moves: 28 March - 1 April 2022
Keep up-to-date with the top personnel stories on Insurance Age.
WTW follows Aon and Marsh McLennan and withdraws from Russia
Ownership of Russian businesses will be transferred to local management as broker expresses dismay at the conflict.
People Moves: 7 - 11 March 2022
Keep up to date with the latest industry moves.
ESG round-up - March 2022
In our quarterly update, Insurance Age examines what the insurance world is doing to support the environmental, social and governance agenda.
People moves: 28 February - 4 March 2022
Keep up to date with the latest industry news.
Howden appoints WTW’s Aubert as CEO in France
Luigi Sturani, regional CEO of Howden Europe, revealed that the first key step in expanding Howden France was to find a “respected and credible leader” in the market, adding that Aubert was a “natural fit”.
People Moves: 24-28 January 2022
Stay up-to-date with the latest personnel changes in insurance.